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Secured equipment/vehicle term loans are usually considered when you can offer security, for example a transit van or defined equipment. Lenders typically look for an established trading record, evidence of income or turnover, and affordability to cover monthly repayments. Credit history matters, but stable cash flow and clear security can make lending more accessible than unsecured options. Typical amounts range from £10,000 to £150,000, often with terms of 36 to 84 months. Realistic pricing is roughly 6.0% to 14.0% APR, and decisions are often around 1 to 3 weeks for straightforward cases.

Unsecured term loans usually do not require specific asset security, but they still rely on credit and affordability checks. Lenders commonly assess trading history, turnover consistency and the ability to meet monthly repayments, using evidence such as bank statements and accounts. For amounts, typical ranges are £5,000 to £100,000, with shorter terms of 12 to 60 months. Expect realistic UK interest rates of roughly 8.0% to 28.0% APR, depending on risk profile and trading strength. Decision times are often around 1 to 2 weeks when your documentation is clear.

Invoice-backed business term loans focus on your invoices and receivables rather than general credit alone. Lenders typically require proof that invoices are genuine and meet eligibility criteria, often checking customer payment patterns and whether invoices are disputed. Typical amounts range from £10,000 to £250,000 depending on invoice volume, invoice quality and the advance rate. Terms are commonly 3 to 24 months, and the facility can operate as a rolling arrangement where repayments track invoice settlements. Effective cost is usually higher than secured lending, with a realistic UK range of roughly 10.0% to 35.0% APR equivalent. Decisions often take a few days to 2 weeks after onboarding, depending on invoice verification.